American economic success is not due to old companies staying big. It's due to the immense rate that some startups tend to grow.
From the 100 most valuable companies on Earth, there are maybe 20-30 US (rough guess) tech companies that have been started in the the past 40 years, and several of them in the past 20.
And approximately 0 European ones.
And while this isn't PROOF of causation, it surely increases the posterior probability of causation, regarles of what your prior was before adding this evidence.
From the 100 most valuable companies on Earth, there are maybe 20-30 US (rough guess) tech companies that have been started in the the past 40 years, and several of them in the past 20.
And approximately 0 European ones.
And while this isn't PROOF of causation, it surely increases the posterior probability of causation, regarles of what your prior was before adding this evidence.